Daily Updates UPI Hits Record 23.66 Billion Transactions in July, Payment Value Nears ₹30 Lakh Crore Adarsh SinghAugust 1, 2026052 views How Did UPI Set a New Monthly Transaction Record in July 2026? India’s Unified Payments Interface (UPI) continued its rapid growth trajectory by recording its highest-ever monthly transaction volume in July 2026. According to data released by the National Payments Corporation of India (NPCI), the real-time digital payments platform processed 23.66 billion transactions worth ₹29.88 lakh crore during the month, setting a new benchmark for the country’s digital payments ecosystem. The latest figures surpassed the previous record of 23.20 billion transactions, achieved in May 2026, highlighting the sustained adoption of UPI across consumers, merchants, and businesses. Although transaction value remained marginally below the all-time high of ₹29.90 lakh crore recorded in May, the July performance reaffirmed UPI’s position as the backbone of India’s digital payment infrastructure. Monthly and Daily Transactions Reach New Highs UPI handled 23.66 billion transactions in July, reflecting a 4.1% month-on-month increase from 22.72 billion transactions recorded in June. In terms of transaction value, the platform processed ₹29.88 lakh crore, up 3.3% from ₹28.92 lakh crore in June. On a daily basis, UPI processed an average of 763 million transactions, while the average daily transaction value stood at ₹96,383 crore, showcasing the platform’s growing scale and reliability. Strong Annual Growth Continues Compared with July 2025, UPI registered robust double-digit growth across key metrics. Transaction volume increased 22% year-on-year Transaction value rose 19% year-on-year The figures indicate continued growth in digital payment adoption across retail consumers, merchants, and businesses, driven by increasing smartphone penetration, wider merchant acceptance, and expanding financial inclusion initiatives. UPI Continues to Expand After Crossing 23 Billion Milestone UPI crossed the 23 billion monthly transaction milestone for the first time in May 2026, and July has now established a new all-time record. The sustained momentum reflects the growing role of UPI in everyday payments, including merchant transactions, peer-to-peer transfers, bill payments, subscription services, and online commerce. PhonePe Leads, While WhatsApp Gains Momentum According to the latest app-wise data available for June, PhonePe continued to dominate India’s UPI ecosystem with 10.48 billion transactions, maintaining its leadership position. Google Pay retained the second spot, followed by Paytm in third place. Meanwhile, WhatsApp overtook CRED in monthly UPI transaction volume, processing 150.48 million transactions, compared to 141.78 million processed by CRED. NPCI is yet to release platform-wise transaction data for July. UPI’s Global Expansion Continues UPI has also continued expanding its international presence. Recently, Maldives launched a real-time payment corridor with India, becoming the latest country to integrate with the Indian payment network. UPI merchant payments are now available across 10 international markets, including: Bhutan Singapore United Arab Emirates France Mauritius Sri Lanka Nepal Qatar Cambodia Maldives Additionally, Greece remains connected for person-to-person (P2P) transfers, while Singapore and Nepal also support remittance linkages with India. What’s Next? With monthly transactions reaching another record high, UPI continues to strengthen its position as one of the world’s largest real-time digital payment systems. As international partnerships expand and adoption across consumers and merchants continues to grow, the platform is expected to witness further increases in transaction volume and value in the coming months. Market participants will now await NPCI’s July app-wise data to assess how major players such as PhonePe, Google Pay, Paytm, WhatsApp, and CRED performed during the record-breaking month.